Income Statement of Lynette's Laundry for the month ended 31 August 20.1

Here is the completed Income Statement: Income Statement of Lynette's Laundry for the month ended 31 August 20.1 | Account description | Rand | | :------------------ | :--- | | Income | | | Current income | 17 000 | | Interest received | 500 | | Total income | 17 500 | | | | | Expenses | | | Wages | 7 500 | | Materials | 7 800 | | Advertising | 900 | | Stationery | 2 100 | | Total expenses | 18 300 | | | | | Profit/(loss) for the month | (800) | Step 1: Calculate Total Income. Total Income = Current income + Interest received Total Income = R17\,000 + R500 = R17\,500 Step 2: Calculate Total Expenses. Total Expenses = Wages + Materials + Advertising + Stationery Total Expenses = R7\,500 + R7\,800 + R900 + R2\,100 = R18\,300 Step 3: Calculate Profit/(loss) for the month. Profit/(loss) = Total Income - Total Expenses Profit/(loss) = R17\,500 - R18\,300 = R-800 Since the result is negative, it represents a loss of R800. That's 2 down. 3 left today — send the next one.